Legal & General Investment Management (LGIM) has hired Michelle Scrimgeour from Columbia Threadneedle Investment to serve as its new CEO.

Scrimgeour will replace Mark Zinkula, when he retires this August.

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Zinkula, who announced his retirement last May, has been at the helm of LGIM for eight years.

Scrimgeour will also have a seat on the board of Legal & General Group.

At Columbia Threadneedle, Scrimgeour serves as the CEO for EMEA. She has been working in this role since April 2017. She is also the CEO of Threadneedle Asset Management and is part of Ameriprise Financial’s executive leadership team.

Before coming to Columbia Threadneedle, she was the chief risk officer at M&G Investments and had a stint at BlackRock, where she was COO for international fixed income, global head of fixed income product and head of alternative investments.

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Legal & General CEO Nigel Wilson said: “I am delighted Michelle is joining us to lead the next phase of LGIM’s growth both with our existing UK clients and internationally.

“Her successes at Columbia Threadneedle, M&G and Blackrock clearly demonstrate that she combines a capacity for managing and growing a very substantial international asset management business with a strong focus on creating sustainable and scalable operations.”